Sheffield Forgemasters signed a trade agreement to oversee the development of power-generation forgings with Indian state-run power-equipment maker Bharat Heavy Electricals Ltd. (BHEL). The venture will be operated as a technology transfer agreement and will see BHEL buy the technology and share specialist engineering knowledge with the Sheffield-based company. The 10-year agreement will mainly serve India’s growing domestic market for turbine and power-generation products. Signing of the memorandum of understanding pledges future training provisions in specialist cast and forged-steel production with Forgemasters.
According to Forgemasters, the agreement will help it build new steelmaking and forging facilities to manufacture forgings for hydro, nuclear and thermal power-generation projects. The agreement helps Forgemasters extend its reach into the Indian market and benefit from sharing its knowledge. As a result of the agreement, it is anticipated that links between the two companies will provide crucial business over the next decade.